Shagang adjusts long prices

SteelOrbis Shanghai On April 11, Shagang adjusted its mid-April long product ex-factory prices as follows: 1. The ex-factory price of rebars increased RMB 60/mt. After the adjustment, the price of 14-25 mm HRB335 rebar reached RMB 3,080/mt ($385). 2. The ex-factory price of wire rods increased RMB 30/mt. The new price of 6.5 mm Q235 wire rod is RMB 3,230/mt ($403). Taxes are included in the above given prices, and the prices are effective from April 11 to April 20 2006. Located in Jiangsu Province, Shagang is the largest rebar producer in China with 4 million metric tons output per annum. Shagang adjusts its prices in every fifteen days, and its price adjustment has great influence on East China markets.